8-KRegulation FDExhibits & Filings

INTERNATIONAL BUSINESS MACHINES CORP 8-K Report, Regulation FD Disclosure (Mar 29, 2018)

Filed March 29, 2018For Securities:IBM

Summary

This IBM 8-K filing from March 29, 2018, primarily serves to disclose updated financial information following the adoption of new accounting guidance related to pension reporting. The company is providing a view of both GAAP and operating results for the fiscal years 2016 and 2017 under this revised reporting structure. This aims to offer investors a clearer understanding of the company's financial performance by presenting data that management believes is useful and allows for better comparability. The filing includes supplemental information regarding these financial results, including reconciliations for non-GAAP operating earnings per share and specific financial data for 2016 and 2017. IBM emphasizes that these materials contain both GAAP and non-GAAP financial measures, and investors are directed to its Investor Relations website and prior filings for detailed explanations and reconciliations of these measures.

Key Highlights

  • 1IBM is disclosing updated financial results for 2016 and 2017 due to the adoption of new accounting guidance on pension reporting.
  • 2The company is providing both GAAP and operating (non-GAAP) results to offer a comprehensive view.
  • 3This filing includes supplemental information and reconciliations for the new reporting structure.
  • 4Exhibit 99.1, furnished with the SEC, details the adoption of the new pension reporting guidance.
  • 5Exhibit 99.2, filed with the SEC, contains the actual 2016 and 2017 financial data under the revised accounting standards.
  • 6IBM directs investors to its Investor Relations website for additional information and updates.
  • 7The company references its 2017 Annual Report for the rationale behind using non-GAAP financial measures and for reconciliation details.

Frequently Asked Questions

IBM is filing this 8-K to disclose updated financial information for 2016 and 2017 that reflects the company's adoption of new accounting guidance concerning pension reporting. This filing provides a clearer view of their financial results under the revised accounting standards.

The new pension reporting guidance affects how IBM accounts for its pension plans. The company is providing both Generally Accepted Accounting Principles (GAAP) and operating (non-GAAP) results to help investors understand the impact and to offer a more complete picture of financial performance.

Detailed 2016 and 2017 financial data under the new reporting structure is provided in Exhibit 99.2 of this 8-K filing. IBM also directs investors to its Investor Relations website (www.ibm.com/investor/) and its 2017 Annual Report (filed February 27, 2018) for further information, explanations of non-GAAP measures, and reconciliation details.

Information in Item 7.01 and Exhibit 99.1 is being 'furnished' to the SEC and is not deemed 'filed' for purposes of Section 18 of the Exchange Act. However, Exhibit 99.2, which contains the 2016 and 2017 financial data, is considered 'filed' with the SEC.